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Trading strategy for March 16, 2000

Satyam Computer: The stock has closed near its first resistance. The stock has yet not broken its medium term base of Rs 4825. It appears the stock will consolidate around these levels before rallying further.

DSQ Software: DSQ has closed on a very strong note and is likely to continue the uptrend. It has closed near its first resistance of Rs 2360. Next resistance for the stock is at Rs 2700. On the lower side, the stock has an immediate support at Rs 2280. Major support for the stock lies at Rs 2020.

Reliance Industries: The stock has crossd its first resistance and has closed above it. The next resistance for the stock exits at around Rs 300. For very short term player, the stop loss can be used at Rs 230.

Ranbaxy: Attempts to show a rally seems to have failed as the stock has showed a weak trend on Wednesday. The stock has a strong resistance at Rs 740, and unless this level is crossed, long positions can be avoided. The immediate resistance for the stock is at Rs 705. On the down side, the stock has a support at Rs 635.

Sterlite: The fall in this counter has shown a slowdown on Wednesday which may result in a corrective rally. For long positions, the stop loss is at Rs 925. On the upper side, the stock has first resistance at Rs 1040, and above this, the outlook should improve.

Zee Tele: The stock has shown an extremely weak close and is all set to break its immediate bottom of Rs 1200. The next major base for the stock is around Rs 1020. On the upper side, unless it crosses Rs 1320, long positions can be avoided. The first resistance for the stock is at Rs 1280.

By Arc Investments & Consulting

Stocks

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